SEC Warns Mutual Funds: Federal securities regulators...
From Times staff and Wire reports
SEC Warns Mutual Funds: Federal securities regulators are telling mutual funds to remove from their names any suggestions that the funds are insured by the government. The SEC established the new get-tough policy to protect investors from even inadvertent confusion. “Funds that currently have names using such terms as ‘guaranteed’ or ‘insured’ in conjunction with words such as ‘United States’ or ‘U.S. government’ should take immediate action to remove those words from their names,” said a letter sent to all 3,500 investment companies registered with the SEC.
